SoFi Technologies (NASDAQ:SOFI) Trading Up 1.9% - What's Next?

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) rose 1.9% during mid-day trading on Friday . The stock traded as high as $13.80 and last traded at $13.83. Approximately 15,957,183 shares traded hands during trading, a decline of 66% from the average daily volume of 47,274,932 shares. The stock had previously closed at $13.57.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Citizens Jmp began coverage on shares of SoFi Technologies in a research note on Friday, April 25th. They set an "outperform" rating and a $17.00 target price for the company. Dbs Bank raised SoFi Technologies to a "strong-buy" rating in a research note on Friday, February 21st. JMP Securities initiated coverage on SoFi Technologies in a research note on Friday, April 25th. They set a "market outperform" rating and a $17.00 price target on the stock. Needham & Company LLC reissued a "buy" rating and set a $20.00 price target on shares of SoFi Technologies in a research note on Wednesday, April 30th. Finally, UBS Group upped their price objective on SoFi Technologies from $14.00 to $15.50 and gave the stock a "neutral" rating in a report on Wednesday, April 30th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, SoFi Technologies currently has a consensus rating of "Hold" and an average target price of $14.38.

SoFi Technologies Stock Up 2.4%

The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18. The firm's 50-day moving average price is $12.02 and its 200 day moving average price is $13.91. The firm has a market cap of $15.36 billion, a P/E ratio of 37.50, a PEG ratio of 2.24 and a beta of 1.84.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its earnings results on Tuesday, April 29th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.03 by $0.03. SoFi Technologies had a net margin of 18.64% and a return on equity of 3.82%. The firm had revenue of $763.81 million for the quarter, compared to analysts' expectations of $739.93 million. During the same quarter last year, the company posted $0.02 earnings per share. SoFi Technologies's revenue was up 32.7% on a year-over-year basis. On average, equities research analysts expect that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Insider Buying and Selling at SoFi Technologies

In related news, CTO Jeremy Rishel sold 68,625 shares of the firm's stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $12.64, for a total transaction of $867,420.00. Following the transaction, the chief technology officer now owns 655,118 shares in the company, valued at $8,280,691.52. This trade represents a 9.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kelli Keough sold 9,185 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $15.43, for a total transaction of $141,724.55. Following the transaction, the executive vice president now owns 169,626 shares in the company, valued at $2,617,329.18. This represents a 5.14% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 100,172 shares of company stock worth $1,271,115. 2.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On SoFi Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of SoFi Technologies during the 4th quarter valued at $27,000. Hollencrest Capital Management bought a new position in SoFi Technologies in the 4th quarter worth $31,000. Mpwm Advisory Solutions LLC bought a new position in SoFi Technologies in the 4th quarter worth $32,000. FNY Investment Advisers LLC raised its holdings in SoFi Technologies by 727.1% in the 4th quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company's stock worth $33,000 after acquiring an additional 1,905 shares during the period. Finally, Hazlett Burt & Watson Inc. increased its holdings in shares of SoFi Technologies by 2,200.0% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 2,300 shares of the company's stock worth $27,000 after purchasing an additional 2,200 shares during the period. Institutional investors and hedge funds own 38.43% of the company's stock.

About SoFi Technologies

SoFi Technologies, Inc provides various financial services in the United States, Latin America, and Canada. It operates through three segments: Lending, Technology Platform, and Financial Services. The company offers lending and financial services and products that allows its members to borrow, save, spend, invest, and protect money.

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